Industry
Ontario residents who purchase private travel health insurance coverage before traveling outside of Canada will likely not notice the impact of the province’s new proposal to stop OHIP coverage for residents travelling abroad, one executive in the travel insurance business suggests. Ontario currently pays only a very limited amount – about 5% — of costs […]
By David Gambrill | April 26, 2019
3 min read
The Ontario government wants to make the auto claims process easier to navigate and less cumbersome, a politician who used to be a broker told the legislature last week. “Today when someone has an accident, they are assigned an adjuster,” Nina Tangri, Conservative MPP for Mississauga-Streetsville, said Apr. 18 during debate on an NDP private […]
By Greg Meckbach | April 23, 2019
The Ontario government plans to work with the industry on implementing a number of changes to auto insurance, including doubling accident benefits coverage for catastrophic impairment. In its 2019-20 budget document tabled Apr. 11, the government said motorists “should have the choice to lower their premiums by allowing insurers to consider their credit history,” a […]
By Greg Meckbach | April 18, 2019
A $24.3-million lawsuit by an oil and gas company against a contractor over an accident that spilled 60 cubic metres of oil is one of Canada’s largest-ever subrogated claims, a lawyer for the plaintiff says. In ISH Energy Ltd v Weber Contract Services Inc., Justice Gillian Marriott of the Court of Queen’s Bench of Alberta […]
By Greg Meckbach | April 16, 2019
4 min read
A new cyber threat called “credential stuffing” is emerging, and Canada is the third-most targeted country in the world, according to a new report. Credential stuffing is when hackers take a stolen username and password and then run it through different sites to see if they can access information anywhere else. It’s based on the […]
By Jason Contant | April 15, 2019
2 min read
Your clients may be paying higher rates but hard market may not be the right way to describe it, speakers suggested at a recent insurance conference. “I don’t personally know if I would call it a hard market yet. What I would call it is pricing coming back up to something that is a long-term […]
By Greg Meckbach | April 5, 2019
OTTAWA – Bank of Canada governor Stephen Poloz says the economy needs a longer lift from stimulative interest rates to overcome domestic and global economic hurdles, though he predicts the country’s recent economic weakness will only be temporary. Poloz, speaking Monday to a business audience in Iqaluit, Nunavut, noted the difficulties related to the late-2018 […]
By Greg Meckbach | April 2, 2019
Auto coverage is changing for British Columbia motorists effective today. Accident benefits coverage from Insurance Corporation of B.C. has more than doubled from $300 per week to $740 a week. That is one of several changes – for claims made on or after April 1, 2019 – ICBC said last week in a release. ICBC […]
By Greg Meckbach | April 1, 2019
The healthcare industry continued to be the most targeted sector by cyber criminals in 2018, accounting for 41% of attacks, according to the Beazley 2019 Breach Briefing, released Tuesday. “Healthcare records are more valuable to attackers and sell for significantly higher than financial data on the dark web,” explained Lauren Winchester, privacy breach response services […]
By Jason Contant | March 30, 2019
AIG Canada is pulling out of writing personal lines business in Canada. AIG communications director Lynn Woodburn confirmed to Canadian Underwriter Wednesday evening that it would no longer underwrite new policies in personal lines. This confirmed speculation among brokers that came to light late last week. The decision does not affect AIG’s commercial business, which […]
By Jason Contant | March 28, 2019
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